乐天堂fun88(中国区)官方网站 Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 7 - Investment in Unconsolidated Affiliates

Note 7 - Investment in Unconsolidated Affiliates

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

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Investment in Unconsolidated Affiliates Disclosure [Text Block]

7. INVESTMENT IN UNCONSOLIDATED AFFILIATES

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Our ownership percentage and investment in unconsolidated affiliates were as follows (dollars in听millions):

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听	听	*December 31,*						听
听	听	*2020*		听	听	*2019*		听
Equity Method:	听	听	听	听	听	听	听	听
Venator Materials PLC(1)	听	$	鈥�	听	听	$	200	听
BASF 乐天堂fun88(中国区)官方网站 Shanghai Isocyanate Investment BV (50%)(2)	听	听	111	听	听	听	112	听
Nanjing Jinling 乐天堂fun88(中国区)官方网站 New Material Co., Ltd. (49%)	听	听	229	听	听	听	196	听
Jurong Ningwu New Material Development Co., Ltd. (30%)	听	听	33	听	听	听	27	听
Total investments	听	$	373	听	听	$	535	听

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(1)

On December 23, 2020, we completed the sale of approximately 42.4 million ordinary shares of Venator, and we no longer account for our current remaining ownership interest in Venator as an equity method investment, but rather as an investment in equity securities that are marked to fair value with changes in fair value reported in earnings. As of December 31, 2020, our investment in Venator was $32 million and was included in other noncurrent assets on our consolidated balance sheets.

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(2)

We own 50% of BASF 乐天堂fun88(中国区)官方网站 Shanghai Isocyanate Investment听BV. BASF 乐天堂fun88(中国区)官方网站 Shanghai Isocyanate Investment听BV owns a 70% interest in SLIC, thus giving us an indirect 35% interest in SLIC.

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Summarized Financial Information of Unconsolidated Affiliates

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Summarized financial information of our unconsolidated affiliates as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018 is as follows (dollars in millions):

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听	听	*December 31,*						听
听	听	*2020*		听	听	*2019*		听
Current assets	听	$	1,544	听	听	$	1,439	听
Non-current assets	听	听	2,317	听	听	听	2,436	听
Current liabilities	听	听	574	听	听	听	688	听
Non-current liabilities	听	听	1,804	听	听	听	1,614	听
Noncontrolling interests	听	听	6	听	听	听	7	听

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Year ended December 31,

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2020

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2019

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2018(1)

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Revenues

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3,544

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4,025

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2,181

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Gross profit

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338

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454

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221

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(Loss) income from continuing operations

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)

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124

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Net (loss) income

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)

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124

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(1)

We began accounting for our investment in Venator as an equity method investment on December 3, 2018 and then as an investment in equity securities on December 23, 2020 and thereafter. Therefore, the summarized financial data only includes information for Venator for the years ended December 31, 2020听and 2019 and the period from December 3, 2018 through December 31, 2018.

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